6700 N 52nd St · Keats, KS 66503

$180,000

3 bd · 2.0 ba · 2,297 sqft · SingleFamily public records

Built 1980 5.00 ac lot

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Why this score? — see what drove the D+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +15.6/30.0
• ARV discount +7.5/15.0
• DSCR +4.8/10.0
• 1% rule +4.6/10.0
• Schools +4.6/10.0
• Rent growth +3.2/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• 5 acre lot
• 5 garage spots
• Built 1980

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $77 ($923/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $173k (3.8% below list).
• Recommended offer: $173k (3.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Riley County (rural): math 55% / reading 52% proficiency, ranked #6 of 169 in KS (top 4%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 19% free/reduced lunch — higher-income household profile.
• Zoned schools: Riley County Grade School (math 59% / reading 56%, grade C+, #87 of 684 statewide, top 13%, 504 students, 25% FRL); Riley County High School (math 34% / reading 24%, grade F, #60 of 327 statewide, top 24%, 204 students, 22% FRL) — zoned schools at 24% FRL track the district average.
• Market conditions: Rents rising (+3.0%/yr); 190 active listings in the ZIP; solid renter incomes; 132 units permitted in Riley County in 2024 (35 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Riley County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $65k; list at $180k implies a 177% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $173,153 (3.8% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
3. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
4. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
5. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.96% ✗
• Cap rate: 6.81%
• Cash-on-cash: 1.83%
• DSCR: 1.08
• GRM: 8.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.98% rent growth · sell at horizon

5-year hold

• IRR: -13.4%
• Equity multiple: 0.52×
• Total profit: $-24,248
• Equity at exit: $26,839

10-year hold

• IRR: -4.4%
• Equity multiple: 0.71×
• Total profit: $-14,726
• Equity at exit: $15,563

Cash invested: $50,400 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 83 Strongly Landlord-Friendly
• State Kansas: 83 Strongly Landlord-Friendly · R+10
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; moderate court pace.

Methodology + full state rankings →

ZIP-level market 66503

• Rents YoY: 3.0%
• Active inventory: 190
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,732 medium
• Mortgage (P&I): −$944
• Tax from tax record: −$272 /mo · $3,265/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$364
• Net cashflow: $77

Break-even live

Break-even rent $1,634

Max offer price $180,000

Occupancy floor 91%

Sensitivity live

Price	-10% $179	-5% $128	+0% $77	+5% $26	+10% $-25
Rent	-10% $-60	-5% $9	+0% $77	+5% $145	+10% $214
Rate	-1.0pp $168	-0.5pp $123	base $77	+0.5pp $30	+1.0pp $-17

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-04-03
   historical
2. 2026-04-02
   listed $180,000
3. 2001-06-01
   soldstatus $65,000
4. 1999-09-01
   soldstatus $77,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast KS · Resets to sale price

• Current annual tax: $3,265 · $272/mo
• Projected year-2 tax: $3,265 · $272/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 4/10 Moderate 7 d/yr ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,778
• − Mortgage interest: −$10,083
• − Property taxes: −$3,265
• − Insurance: −$900
• − Repairs & maintenance: −$1,662
• − Management: −$1,662
• − Depreciation: −$5,236
• Taxable loss: −$2,030
• Est. tax savings @ 24.0%: +$487
• After-tax cash flow: $1,410/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Riley County
• NCES district ID: 2011100
• Math proficiency: 55% ▼ -2.00%
• Reading proficiency: 52% ▼ -3.00%
• Median HH income: $56,080
• Composite: 46.29/100
• National rank: #2477
• State rank: #6 of 169 in KS

Livability — Keats

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Riley County · 62,662 people
• Metro: Manhattan, KS
• Population (ZIP): 17,273
• Household income: $97,846
• Rent vs Own: 40.5% rent · 59.5% own
• Severe rent burden: 421.0

Population outlook (Riley County) Hauer SSP2

• Today (2025): 83,656 people
• By 2030: 89,075 · +6.5%
• By 2040: 99,100 · +18.5%
• By 2050: 109,146 · +30.5%
• By 2075: 134,178 · +60.4%
• By 2100: 153,653 · +83.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 8% Two or more races 8% Black 5% Asian 5% Pacific Islander 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Lithuanian 2% Italian 2% Portuguese 2%
• Foreign-born: 6% · China, Canada, South Korea
• Languages at home: 90% English-only · Spanish 4% Chinese 2% Korean 1%

Political lean MEDSL · Riley

• 2024 margin: Toss-up / Even · D 49.6% · R 47.8% · Other 2.5%
• 2008→2024 swing: +8.8pp toward D · 2008: -7.0pp · 2024: 1.8pp
• All cycles: 2024: D+1.8 2020: D+3.2 2016: R+4.5 2012: R+12.7 2008: R+7.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -214.01%
• Current HPI: 141.8067
• Rent YoY: ▲ 2.98%
• Metro: Manhattan, KS
• State GDP YoY: —
• F500 in state: 0

Price history

+132.3% since first listed

4 events — show timeline

• 2026-04-03 Delisted — FHAOR as distributed by MLS GRID
• 2026-04-02 Listed $180,000 FHAOR as distributed by MLS GRID
• 2001-06-01 Sold (Public Records) $65,000 Public Records
• 1999-09-01 Sold (Public Records) $77,500 Public Records

Property tax history

+5.5%/yr

Latest (2025): $3,265 · +1.9% YoY. Source: county tax records.